News
China's Ministry of Transport has announced implementing rules under the Regulations of the People's Republic of China on International Maritime Transportation, which will require non-vessel-operating common carriers (NVOCCs) to file their freight rates with the Shanghai Shipping Exchange.
The rules will take effect on October 1, 2010 with sixty days as the transitional period.
Under the tariff filing regime, NVOCCs who failed to go through filing formalities or apply the freight rates as filed would be required to rectify within a certain time limit and concurrently face a fine of no less than RMB20,000 but no more than RMB100,000.
If the filed freight rates went beyond the normal and reasonable scope, or are lower than the negotiated rates level concluded with liner operators, or seriously deviate from the average level of the filed rates by the operators of the same scale offering the same service that may impair the market fair competition, the Ministry of Transport will conduct investigation. In case of refusal of investigation or unfaithful providing materials, the NVOCC in question would also be required to rectify and face a fine of no less than RMB20,000 but no more than RMB100,000.
